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Ocular Therapeutix announces Q2 financial results
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Ocular Therapeutix has announced its second-quarter financial results, which included a net loss attributable to common stockholders of approximately $6.4 million, or $2.10 per share, compared with $3.1 million, or $1.19 per share, during the same time last year.
Q2 financial results also included $3.4 million in non-cash charges for stock-based compensation and licensing and consultant fees paid in common stock, compared with $0.2 million for similar charges in 2013, according to a company press release.
The company reported $6 million in total operating expenses during the second quarter of 2014, compared with $3 million during the same quarter last year.
Research and development expenses totaled $4.3 million in 2014 compared with $2.4 million in 2013, which the company attributed to the clinical development of its product pipeline, according to the release.
Cash, cash equivalents and short-term investments added up to $19.9 million in 2014. Additionally, the company earned $66.5 million in net proceeds from an initial public offering of its common stock after the end of the second quarter.
During the fourth quarter of 2014, Ocular Therapeutix expects to release phase 2 data for OTX-DP for the treatment of chronic allergic conjunctivitis, as well as to initiate a phase 2b trial of OTX-TP for the treatment of glaucoma and ocular hypertension, according to the release.